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Below is an Interesting article I found, which says that.....Do not
* V f+ M; B- o7 n: H: hexpect much from Crude Oil producers and future is not with the
8 f6 @7 V# Y" g6 f" T; }- o1 Jcompanies producing Jet fuels but Biofuels. Also no wonder if some of 9 B! l5 B4 E: i* n6 a
these oil producer will go bankrupt or out of the business even if
* Q: W& v* }6 f& qcrude prices improves. This implies also to good names such as Shell, % ^4 U; _8 f1 ^% V* L7 Z/ R
EXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few
- c5 T1 E/ V, l3 P! Q% l+ Wmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
( W3 Y/ d' }/ v) O, O5 K& TA year ago these things would have spiked the price of crude oil by at
0 t* O g$ A, @' Q! W6 \least $50.00 per barrel. Today, oil price declined by a record amount. 4 w! u9 W5 Z1 H5 P, x& p
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There are several reasons the price of oil is decreasing in the face
) i# a8 i1 a/ s: c: eof so much news. These reasons are: ; W3 r* {0 g* |0 Z5 x% l' h
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; V c! M/ I( I# |9 Q5 R1. New oil has been found in Canada, Montana, North & South Dakota and
5 r- d! u2 b+ M# e3 H+ uin the ocean near Brazil. Each of these oil fields has more oil than
+ Q0 ?$ ?2 z( `' \, I7 i4 x) ~$ zArabia.
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2. New natural gas has been found in Pennsylvania and West Virginia. ! w$ x8 `( x4 p; t+ v2 T
This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is & N( s# q' I; W4 s
being used to double their output. 8 W' G4 d8 ^) g. L% {7 P
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, H# Q# s7 |9 e3 |" W' i( K' V4. Production of bio-fuels is beginning to reach critical mass. Bio 5 j- Z }: i9 X
fuel is being produced from many plants and algae. The production $ H7 ~9 m- {0 S; S
potential per acre in some cases is astounding. Many countries are ( ^6 a+ H- u8 v4 p4 u
racing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants * E, V0 Z7 ^7 F) ^$ r! T1 T
are now selling their used oil to bio-diesel producers. Every pork,
0 e0 y4 C' R; ^% B7 ^9 Rcattle, turkey and chicken processing plant will soon sell their fat ( t6 H- w1 f. B- f! {3 c9 ^2 k
to bio-diesel producers. One pork processing plant in Oklahoma is
# f' Z* u2 ]9 v! Z- F/ F9 P: l. u+ B4 dproducing 30,000 gallons of bio-diesel per day from pork fat.
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6. There are 99 nuclear reactors in various stages of planning and ( X$ L- z( ^( q% \& _( y( J
construction around the world at this time. Several hundred more are 5 {& l8 e. ?% P
expected to be built in the future. Much of the energy they produce
$ t5 l5 V1 T; |$ Y" U) A3 ] m( Dwill replace oil.
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9 T) x. d# O7 F& @4 d7. Every company in any form of transportaion business is replacing ! l j; P& {4 @1 [/ L
older equipment such as trucks, airplanes, train engines, ships, etc. 4 W0 \% I$ }* C
with new more fuel efficient equipment. Airlines and railway companies
" l! G( H" g4 r6 a( t; ^6 _are experiencing 20% to 25% better fuel econony with the new 4 B) G1 T! x6 i, L" P( z
equipment. ( X7 k% d( m6 ?9 X! Y4 o- o
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- ]! r& K' {4 o: ~, @; `' fAirlines are flying airplanes with bio-fuel. They are finding the bio- ; S) j$ F( F5 q0 P; Z
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to . m. v9 ]! I5 m
capture methane gas from landfills. This is a huge source of gas 0 I2 t( s4 E" x7 L- k
available at very little cost or risk. The gas is displacing crude / \ ]. l# J' \& ?2 Q
oil.
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' g0 o9 q/ B+ i" S" i$ `; `& B9. Coal is being transformed into a clean burning liquid fuel. The CO2 , n/ M, Q* l9 D7 ^8 p
produced as a byproduct is sold to oil companies for injection into " S/ F* E0 \, |1 Z% P/ W- m4 C) r
oil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy $ a; V7 }, ]$ S5 \5 S5 ~
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the
( `, _* a l/ ?6 K- [price of crude oil but the sum of all of them together is world # h; {+ X6 x- C/ W7 T0 j9 {1 u
changing. The important thing is that OPEC no longer has the ability
' G! j5 {3 H3 F! T! Z: Vto control oil prices. + d! ]% p' V3 {2 g
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With the above scenario, I still believe that there are under
6 S) w5 C0 l" [8 M: k" Y) M1 b, a# [performed OIL companies and probably they are yet to get the justified
- O8 o9 e8 T( J' jvalue .....
. j# B8 }: Y5 }IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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7 m2 d, P$ b- u; I$ H- \- |The above articles are from WSJ .............PUBLISHED ON 9TH JAN 9 I8 B0 c5 J8 u4 u! R
2009 ... FYI-Only |
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